Permianville Royalty Trust Cuts Monthly Payout to $0.015000

Permianville Royalty Trust (NYSE: PVL) announced a monthly cash distribution of $0.015000 per unit, payable on November 13, 2026, to unitholders of record as of October 30, 2026. The payment reflects net profits calculated from reported oil production in July 2026 and natural gas production in June 2026, while incorporating accrued costs from August 2026.

Recorded oil cash receipts from the underlying properties totaled $3.1 million for the current month, a decrease of $0.8 million from the prior month. This decline coincided with realized wellhead prices for oil dropping to $81.06 per barrel from $92.96 in the previous period. Conversely, natural gas cash receipts rose by $1.2 million to $2.4 million, driven by realized prices climbing to $3.05 per Mcf from $2.21. The increase in gas revenue was partly attributed to the first month of associated production and revenues from three newly drilled wells in the Haynesville region.

Production volumes for the current month included 38,067 barrels of oil and 783,863 Mcf of natural gas. These figures compare to 42,472 barrels of oil and 554,438 Mcf of natural gas in the prior month. Total accrued operating expenses decreased by $0.3 million to $2.6 million, while capital expenditures fell by $0.1 million to $1.6 million.

COERT Holdings 1 LLC, the Sponsor, established a cash reserve for approved future development expenses related to ongoing Haynesville drilling. Citing an uptick in oil prices and potential increases in operator capital expenditures, the Sponsor withheld an additional $0.3 million from the current month's net profits to add to this reserve. The total reserve for approved future development expenses now stands at $2.0 million. The Sponsor stated that any reserved but unspent amounts will be released as an incremental cash distribution in a future period if expenses are delayed or lower than expected.

In September 2026, the Sponsor completed a partial sale of non-producing acreage for $0.3 million, free and clear of the Trust's net profits interest. The transaction included a future capital expenditure carry from the buyer. Sale proceeds attributable to the Trust's net profits interest, net of customary transaction and legal expenses, are scheduled for inclusion in the November 2026 monthly distribution.